Mozambique: Attorney-General Briefs Assembly On 'Hidden Debts'

Maputo — Mozambican Attorney-General Beatriz Buchili, in her annual report to the Mozambican parliament, the Assembly of the Republic, on Wednesday announced that, after almost four years of investigation, prosecutors have charged 20 suspects in connection with the financial scandal usually known as the "hidden debts".

This refers to the loans of over two billion US dollars granted by the European banks Credit Suisse and VTB of Russia to three fraudulent companies, Proindicus, Ematum (Mozambique Tuna Company) and MAM (Mozambique Asset Management), on the basis of illicit loan guarantees issued by the government of the time, headed by President Armando Guebuza.

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